NorthWest Biotherapeutics Inc (NWBO)

[MI Dendream]

Bob, Unfortunately I don’t think UCLA had many alternatives at the time, but I agree that there is likely some regret. I understand the likely reasons why we are where we are, think up until now management has done as good a job as possible given the headwinds they have faced, and still hold out hope that they will get this right.

Having said that, I am concerned that they believe TLD publication is the finish line to commercial success…not even close.

We do not know yet what steps have been taken regarding RA submission and approval. If we are subject to a standard review and have not yet submitted the application….incompetence. If we publish before presenting…incompetence. If we think we can hire and train a successful commercial operation ourselves in time to launch a blockbuster in 1H2022…incompetence. If this drug is not launched in some major market before Q4 2022…incompetence. Time is money and when it comes to GBM, there is no making up for lost lives and lost revenue.

There is still a chance that all or most of these things are addressed behind the scenes. Unfortunately, we retail investors are left to guess and speculate. This may be due to a grand plan coming to fruition, or it may be incompetence. We will soon find out which is true and what that means for patients. As an investor, I believe this asset has great value even if we are saddled with incompetence, it just wont be maximized for us in that case.